Is Walt Disney Giving Up on Hulu?
There's no question that the coronavirus pandemic has been a boon for the video streaming industry. Subscriptions for services like Netflix (NASDAQ: NFLX) have surged, and third-party aggregators like Reelgood have also reported a sharp jump in streaming time.
That trend isn't a surprise given the stay-at-home mandates and advisories during the crisis, but one well-known streaming brand seems to be missing the party. Walt Disney's (NYSE: DIS) Hulu, born as a joint venture of the major broadcasters, has long lagged Netflix and Amazon Prime in subscribers, even though the service has a slate of strong content -- it offers television programs straight from the broadcast networks, and has taken home an Emmy award for outstanding drama for The Handmaid's Tale, something Netflix has yet to accomplish. Its longtime status as a joint venture made it something of a forgotten stepchild in the streaming industry, but that was supposed to change when Disney took majority control with its Fox deal last year.
Former Disney CEO Bob Iger touted the potential of Hulu, and planned to infuse it with new original programming and launch the service internationally. He also liked the service's appeal to young adults, which advertisers favor.
Source Fool.com
